Investing..

[Da Bull]

Any ideas for old hoss to buy stock? My ass needs to contribute to my retirement fund lol

At your age bro...start an IRA.

[jbol]

At your age bro...start an IRA.

i agree.............good advice

[Phillyboy1]

At your age bro...start an IRA.

exactly, great advise there, good ol roth ira, no taxes lol. exspecially at your age hoss, by 30 youll have a good chunk of change to chill with

[hoss827]

At your age bro...start an IRA.

Sounds good to me if it involves making money...But i'm dumb..so i got some questions. Ok, these are tax free...that's good. How much do these cost?

How quickly do they grow?

Where can I purchase one?

What is the difference between an IRA and actual stock? (if there is a dif)

[QbHunter]

where do you guys think is the best place to start an IRA as far as on-line

[Da Bull]

where do you guys think is the best place to start an IRA as far as on-line

There are so many on-line brokers bro......if your just opening on IRA on-line,pick a broker that doesn't charge you a fee for the trading platform.

[50%Natural]

It is a shame you didn't have this money a year ago and invest in the airline industry, they were doing ****ty. The economy is in an upswing now and I bet any blue chipper you invest in would be safe. Airline industrys will do well considering there are no other terrorist hijackings

[sp9]

For anyone starting out and wanting to invest, most financial advisors suggest thinking about the following before you do:

1) Have you analyzed your spending habits and created a spending plan so that you can maximize the money you have left over after expenses? Quicken or MS Money are great ways to track your spending?

2) Do you have an emergency fund built up of 6-8 months of living expenses in case of job loss or other emergency situation that may come up? Basically to keep you from having to go in debt to make it through. Meaning it will keep you from paying other people to use their money.

3) Have you paid off outstanding credit card balances and if you continue to use credit cards is it for convienence only and you pay them off every month?

4) Are you fully maximizing your employer's benefit plans especially 401k or similar retirement plan with major tax and matching benefits? Disability insurance, tuition reimbusement, medical spending accounts, are also things to make sure you are making use of.

5) If you are doing all of that, can you based on the income rules invest in a roth IRA? I believe for single people the adjusted gross income limit is 95,000 before you start to have restricitions on the amount you can contribute.

6) If you answered yes to all of that then go for it and invest however you best see fit based on sound research and planning. If not you might want to get some of those things in order so you have a solid financial foundation before you invest in other places.

I think right now the average american household debt is $18,000 not including mortgages. I personally am tired of paying interest for anything and want to do things like buy my next vehicle in cash. Of course I need to pay down the one I have now at a very accelerated rate and hold on to it for a long time. I love seeing people pay me for the use of my money rather than the other way around.

Peace!

[spywizard]

Bump for scott..............

anyone want me to tell you how to pay off a 30 year mortgage in 17 years????

Just ask...........

For anyone starting out and wanting to invest, most financial advisors suggest thinking about the following before you do:

1) Have you analyzed your spending habits and created a spending plan so that you can maximize the money you have left over after expenses? Quicken or MS Money are great ways to track your spending?

2) Do you have an emergency fund built up of 6-8 months of living expenses in case of job loss or other emergency situation that may come up? Basically to keep you from having to go in debt to make it through. Meaning it will keep you from paying other people to use their money.

3) Have you paid off outstanding credit card balances and if you continue to use credit cards is it for convienence only and you pay them off every month?

4) Are you fully maximizing your employer's benefit plans especially 401k or similar retirement plan with major tax and matching benefits? Disability insurance, tuition reimbusement, medical spending accounts, are also things to make sure you are making use of.

5) If you are doing all of that, can you based on the income rules invest in a roth IRA? I believe for single people the adjusted gross income limit is 95,000 before you start to have restricitions on the amount you can contribute.

6) If you answered yes to all of that then go for it and invest however you best see fit based on sound research and planning. If not you might want to get some of those things in order so you have a solid financial foundation before you invest in other places.

I think right now the average american household debt is $18,000 not including mortgages. I personally am tired of paying interest for anything and want to do things like buy my next vehicle in cash. Of course I need to pay down the one I have now at a very accelerated rate and hold on to it for a long time. I love seeing people pay me for the use of my money rather than the other way around.

Peace!

[QbHunter]

anyone want me to tell you how to pay off a 30 year mortgage in 17 years????

Just ask...........

By-weekly payments

[spywizard]

Nope that only reduces it to about 21 years........

good try though.......

By-weekly payments

[QbHunter]

Nope that only reduces it to about 21 years........

good try though.......

well, please, enlighten me then

[Tock]

I was wondering... since this site is filled but finacially savy people.. i have about 10-15k to invest for about a 12-18 month period. I don't want to take the chance of buying stock which has the slightest oppourtunity to go down since im playing with my college money... im looking for any sort of growth in that time span..

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If you ask an honest-to-goodness financial advisor, he will tell you that you should put short term $$$ into CD's or similar investments, especially for money you will definately need 1-2 years in the future.

But, if you want to gamble, first off, you don't ever want to invest in anything you don't understand. Look into companies involved with whatever your majoring in . . . if it's English, then investigate what's going on in publishing companies, read the trade journals, find out who's fixing to publish some hot property, see who's going bankrupt. If it's electronics, check the trade journals, find out who's got hot new stuff that's likely to make a major impact, see who's going under. If it's business, you could check things like the trucking industry stocks (which usually pick up early in an economic upswing) and figure out who's gaining market share and who's got lots of idle drivers.
Etc etc etc . . .
If you're not really familiar with any particular industry, you really should either pick one and become intimately familiar with it, then place your stock market bets according to your knowledge of the industry.

If you don't want to mess with all that or spend time learning about the stock market, the the Vanguard 500 mutual fund is for you. Over time, it's outperformed most other funds, even the ones with fancy ads touting "50% increase over 3 years!" (those funds don't include their lousy years in that type of ad) . . . Plus, it's got about the lowest operational cost (around .2%), and its managers had the integrity not to get involved with the stuff that the mutual fund industry is currently embroiled in.

But if you don't mind gambling with your college money, then most any of the stocks mentioned will do. Although, I'm not sure XMSR isn't priced a bit ahead of itself, and SIRI I think is going to eventually fold unless it finds a niche for itself.

If I were you, I'd put the $$$ in CD's, pick an industry and study it, then when you get a job, you'll be ready to invest in something you know something about.

Good luck,
--Tock

[LilVito469]

bro not that i support it...but if you REALLY wanna double or triple your money call up pablow escobar and get a kilo of cocaine it aint the most legal thing , but **** you'll flip 15 grand into 75 grand i garuantee you that.

[Phillyboy1]

bro not that i support it...but if you REALLY wanna double or triple your money call up pablow escobar and get a kilo of cocaine it aint the most legal thing , but **** you'll flip 15 grand into 75 grand i garuantee you that.

um not sure you know, but pablo has been dead for years

[LilVito469]

um not sure you know, but pablo has been dead for years

yes i know it was just for him to get the point across...ok how about Whitey Bulger all the bostonians know about him he's the true life scarface from MASS. Even though he is on the run from the fbi and is the second most weanted man on there list but he was the biggest cocaine dealor from here if not its boston george...

[hoss827]

Ok...Never mind. IRA is a retirement fund. That's an awesome idea for me to get on in. Thanks for the idea DB

[sp9]

Hoss, if you started an IRA at your age with just three thousand per year you would retire a millionare and probably not miss the money. Consider this, $3000.00 per year. Save $57.69 per week every year from now until you are 58 years old (assuming you can do it this year at 16 years old). At 58 years old you would have a million dollars in your account if you earned 8% interest. The key thing would be to start asap and start with the 57.69 per week if you could. Then as you make more money as you get older increase it and participate in a 401k in addition.

[spywizard]

Hey Scott.........good one.

I can't remember the math... but it goes like this..

a man at age 18 saving $100 per month will have $1,000,000 ++ by the time he retires...

a man at age 30 has to save $1000 per month and will only have $600,000...

that gives a good picture...

Numbers are rounded.. but i estimated on the safe side.. not apple pie in the sky returns..

Hoss, if you started an IRA at your age with just three thousand per year you would retire a millionare and probably not miss the money. Consider this, $3000.00 per year. Save $57.69 per week every year from now until you are 58 years old (assuming you can do it this year at 16 years old). At 58 years old you would have a million dollars in your account if you earned 8% interest. The key thing would be to start asap and start with the 57.69 per week if you could. Then as you make more money as you get older increase it and participate in a 401k in addition.